Filing Flows › Baxter International (BAX) › Q1 2026
Baxter International (BAX) Q1 2026 earnings results (first quarter 2026)
10-Q filed Apr 30, 2026
Baxter International (BAX) reported revenue of $2.7B for the first quarter 2026 (Q1 2026), +3% from a year earlier and -9% from the quarter before. Operating margin was 2.4%, net loss $15.0M (0.6% of revenue).
Baxter International, Q1 2026: revenue $2.7B (+3% year over year), operating margin 2.4%, net loss $15.0M, operating cash flow $213M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.7B | -9% | +3% |
| Operating profit | $66.0M | — | +14% |
| Net earnings | −$15.0M | — | -112% |
| Operating cash flow | $213M | -64% | — |
| Free cash flow | $76.0M | — | — |
What changed
Revenue was $2.7B in Q1 2026, up 3% year over year and down 9% from the previous quarter.
Gross margin was 33.0%, up 0.2 points from Q1 2025. Operating profit was $0.07B, a 2.4% margin (up 0.2 points year over year). Of the extra revenue versus Q1 2025, 11% reached operating profit, above the 2% margin then. Operating expenses grew 3% against revenue growth of 3%. The quarter ended with a net loss of $0.01B, narrower than the previous quarter's $1.1B loss. Net interest and other expense of $0.07B was the main reason.
Operating cash flow was $0.21B. Non-cash charges added back $0.24B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items used $0.02B. Capital expenditures of $0.14B left free cash flow of $0.08B.
Questions
What was Baxter International's revenue in the first quarter 2026?
Baxter International (BAX) reported revenue of $2.7B for the first quarter 2026 (Q1 2026), +3% from a year earlier and -9% from the quarter before.
Was Baxter International profitable in the first quarter 2026?
Operating profit was $66.0M (2.4% of revenue) and net loss $15.0M.